HTX Gets Approval to Start Licensing Process in Pakistan

HTX, a global crypto exchange, has made a big move into Pakistan’s regulated crypto market. The company has received approval to start the licensing process under the Virtual Assets Ordinance, 2025.

This development places HTX among the first international digital asset platforms to enter Pakistan’s new regulatory framework.

HTX Moves Closer to Full Crypto License in Pakistan

Announced on December 14, HTX has secured a No Objection Certificate from the Pakistan Virtual Asset Regulation Authority. This approval is an important step for both HTX and Pakistan. It allows HTX to move ahead with the process needed to get full permission to operate.

The exchange will still continue to maintain close engagement with the regulator throughout the process. If granted the full license, HTX will be able to register with the Financial Monitoring Unit (FIU) for anti-money laundering (AML) regulated services. 

These services include exchange operations, broker-dealer activities, custody solutions, and derivatives offerings. At the same time, the company will get ready for full licensing as a Virtual Asset Service Provider under Pakistan’s rules. 

This helps HTX follow local laws while also meeting global standards for compliance, transparency, and risk control. HTX sees this move not just as a regulatory step. It is also a sign that Pakistan could become an important center for digital asset innovation in the region. 

A Major Step for Pakistan’s Digital Asset Market

This certificate shows that Pakistan is serious about building an organized and innovative digital asset sector. It also shows the country’s effort to support new ideas while keeping strong rules in place.

This move comes as interest in digital assets keeps growing across the country. Pakistan is now the world’s third-largest crypto market by daily users. It has about 40 million users and over $300 billion in yearly trading, making it attractive to global companies.

The Pakistani government has also shown interest in resharing its financial system through digital assets. Announced recently, Pakistan has made a new deal with Binance to look at turning government-owned assets into digital tokens. 

This approval shows trust in Pakistan’s plan to adopt crypto in a responsible way and play an active role in the global digital economy.

HTX’s Growth and Setbacks in the Crypto Market

HTX, formerly known as Huobi, was founded in 2013. It has grown from a simple crypto exchange into a wider blockchain platform.

Today, HTX offers many crypto services, including digital asset trading and derivatives. It also provides research, investments, startup support, and other blockchain services, mainly for institutional clients.

However, HTX has faced challenges. In 2023, the exchange temporarily shut down after a security breach in which hackers stole Ethereum from a hot wallet. After operations resumed, the platform saw a large outflow of funds, though a small portion of the stolen assets was later recovered.